University of Michigan consumer survey Friday found consumer sentiment fell about 5% on fears inflation will rise to 4.3% under Trump administration tariffs with major U.S. trading partners.

Consumer sentiment continued to fall in February as worries over inflation and the possibility of higher prices to come from President Donald Trump ’s tariffs policy appeared to drive the University of Michigan’s monthly sentiment index down.

President Donald Trump said on Friday he plans to announce reciprocal tariffs on many countries next week, a major escalation of his trade war. Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve U.